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  • Only 10% of Nigerians earn above ₦100,000, according to the Nigerian Financial Services Market Report. This aligns with most reports about Nigeria, and it's in sharp contrast to the narratives online.
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    MTN Nigeria has dominated the country's telecommunications market over the years, accounting for the largest market share. All four operators, apart from 9mobile, recorded a significant increase in their subscriber base between May 2014 and March 2024.

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  • The 2024 Global Peace Index reveals a decline in peacefulness in 97 countries, the highest since the index began.

    Nigeria is among the nations affected by regional conflicts and rising violence. With a peace index score of 2.91, Nigeria is facing increasing challenges.

    A deteriorating peace score impacts foreign investment and economic stability. Global economic losses due to violence reached $19.1 trillion in 2023.

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    The FAAC's revenue distribution from 2017 to August 2023 highlights the dominance of Delta, Akwa Ibom, Rivers, and Bayelsa states in allocations. Despite Lagos' economic prominence, it ranked fifth. Here is the distribution of revenue among states between 2017 and August 2023.

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  • A Trend of Adult literacy rates of African countries

    Between 2018 and 2021, adult literacy rates across African nations exhibited significant disparities. Seychelles and South Africa led with literacy rates of 96% and 95%, respectively, indicating a high proportion of literate adults. Conversely, Chad had the lowest literacy rate during this period.

    These statistics underscore the uneven progress in educational attainment across Africa, highlighting the need for targeted interventions to improve literacy in lower-performing nations.

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    Nigeria was the seventh most populous nation in the world in 2020, with 206.1 million people. Projected to reach a population of 401.3 million by 2050, Nigeria will rank third after India (1st) and China (2nd). According to Institut national d'études démographiques' projections, Nigeria, Ethiopia, DR Congo, Egypt, Tanzania, and Kenya will be among the world’s top 20 most populous countries by 2050.

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  • Only 10% of Nigerians earn above ₦100,000, according to the Nigerian Financial Services Market Report. This aligns with most reports about Nigeria, and it's in sharp contrast to the narratives online.
    See more

  • MTN Nigeria has dominated the country's telecommunications market over the years, accounting for the largest market share. All four operators, apart from 9mobile, recorded a significant increase in their subscriber base between May 2014 and March 2024.

    See more

  • The 2024 Global Peace Index reveals a decline in peacefulness in 97 countries, the highest since the index began.

    Nigeria is among the nations affected by regional conflicts and rising violence. With a peace index score of 2.91, Nigeria is facing increasing challenges.

    A deteriorating peace score impacts foreign investment and economic stability. Global economic losses due to violence reached $19.1 trillion in 2023.

    See more
Other Insights
 
  • Nigeria leads Africa in five of six goat categories, but its largest share is just 18.2% of continental production.
  • Nigeria has 91 million goats, 17.0% of Africa’s total, nearly twice Ethiopia’s 54 million.
  • Nigeria produced 292,000 tonnes of goat meat, making it Africa’s largest producer but only the world’s 5th largest.
  • Chad produced 166,000 tonnes of goat meat, making it Nigeria’s closest African rival.
  • Goat milk is the exception: FAOSTAT records no Nigerian production, while Sudan accounts for 24.8% of Africa’s total.
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  • 1.5 million TB was consumed in May 2026, the highest monthly level on record.
  • 7 million TB was consumed in Jan–May 2026, up 42.1% from the same period in 2025.
  • Jan–May 2026 usage was 88.4% higher than in 2024 and 156.3% higher than in 2023.
  • May’s monthly usage was nearly 2.6× the level recorded three years earlier.
  • The surge points to rapidly growing demand for internet-based services, content and digital activity in Nigeria.
See more
     
  • 3G's share of Nigeria's mobile market fell from 16.5% to 5.1% between May 2023 and May 2026.
  • 4G became the dominant network, with its market share rising from 25.1% to 54.3% over the same period.
  • 2G's share declined from 58.4% to 36.1% but still accounted for more than one-third of all mobile connections.
  • 5G expanded nearly 37-fold, growing from less than 0.1% to 4.5% of mobile subscriptions.
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  • Nigeria's 36 states received a combined ₦4.14 trillion in FAAC allocations in Jan-May 2026, up ₦735.4 billion (21.6%) from a year earlier.
  • Thirty-five states received higher allocations than a year earlier, while Rivers was the only state to record a decline (₦7.15 billion).
  • Lagos recorded the largest increase in FAAC allocations (₦119.5 billion), more than three times the increase recorded by Oyo (₦38.3 billion).
  • Oyo, Kano, Borno, and Jigawa rounded out the top five states with the largest increases in FAAC allocations.
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  • OPay and Chipper Cash became Africa's fastest unicorns, reaching $1 billion in just 3 years.
  • Interswitch took 17 years to become a unicorn, the longest journey on the list.
  • Moove became Africa's 10th unicorn, reaching the milestone 6 years after it was founded.
  • Half of Africa's unicorns reached a $1 billion valuation within 6 years.
  • Eight of the 10 African unicorns primarily operate in the fintech sector.
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  • Nigeria's insurance industry generated ₦2.3 trillion in gross premium written in 2025.
  • Gross premium written increased 47.3% from ₦1.56 trillion in 2024.
  • Premiums have grown by 273% since 2021, from ₦616.6 billion.
  • Gross premium written has increased every year since 2021.
  • Premium growth does not necessarily mean higher insurance coverage or profitability.
See more
 
  • AXA Mansard, NEM Insurance and AIICO generated 51.7% of the combined revenue of 17 NGX-listed insurers.
  • The top three earned ₦449.9 billion, ₦30.3 billion more than the other 14 insurers combined.
  • The 17 insurers generated a combined ₦869.6 billion in insurance revenue in 2025.
  • AXA Mansard recorded the highest insurance revenue at ₦160.6 billion.
  • Revenue rose at 15 insurers, but only four reported higher profits.
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  • Ethiopia recorded Africa's fastest real GDP per capita growth between 2000 and 2025.
  • Rwanda ranked second, while Sierra Leone, Tanzania and Djibouti completed the top five.
  • Ethiopia's real GDP per capita rose 322%, from $910 to $3,843.
  • Mauritius recorded Africa's largest absolute gain in real GDP per capita.
  • Nigeria ranked 15th, with real GDP per capita increasing 76.7%.
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  • Nigeria has exported more to South Africa than it has imported every year since 2002.
  • Exports peaked at $6.29 billion in 2014, driven almost entirely by mineral fuels.
  • Imports from South Africa have remained below $1 billion annually.
  • Nigeria recorded a $1.27 billion trade surplus with South Africa in 2025.
  • Mineral fuels made up over 95% of Nigeria's exports throughout 1995-2025.
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  • Twelve African countries have not completed a census in at least 10 years.
  • DR Congo (42 years) and Somalia (40 years) have Africa's oldest censuses.
  • Guinea-Bissau has completed a new census, while Cameroon and Chad are still counting.
  • Nigeria and DR Congo are preparing new censuses, but fieldwork has not begun.
  • South Sudan's census is disputed, while Eritrea is excluded from the ranking.
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  • Mauritius had 97 elderly people per 100 children in 2025, over 11 times Africa’s median of 8.5.
  • Its ratio increased from fewer than seven in 1960 to 24 in 2000, becoming Africa’s highest in 2009.
  • Seychelles ranked second with 44 elderly people per 100 children, followed by Tunisia with 42.
  • Mauritius’s child share fell from 25.6% to 14.5% between 2000 and 2025, while its elderly share increased from 6.1% to 14.1%.
  • Nigeria’s ratio moved from 6.9 to 7.6 between 2000 and 2025, placing it 38th among 54 countries.
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  • Nigeria held Africa’s fourth-largest US direct investment balance in 2025, at $4.56 billion.
  • The balance fell by $1.98 billion from $6.54 billion in 2024, a decline of 30.3%.
  • Nonbank holding companies accounted for $3.08 billion, or 67.7% of Nigeria’s total balance.
  • Manufacturing represented $552 million, or 12.1%, while other industries accounted for $921 million.
  • Holding-company assets may ultimately be deployed in other sectors, so the classification does not show their final use.
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  • Nigeria leads Africa in five of six goat categories, but its largest share is just 18.2% of continental production.
  • Nigeria has 91 million goats, 17.0% of Africa’s total, nearly twice Ethiopia’s 54 million.
  • Nigeria produced 292,000 tonnes of goat meat, making it Africa’s largest producer but only the world’s 5th largest.
  • Chad produced 166,000 tonnes of goat meat, making it Nigeria’s closest African rival.
  • Goat milk is the exception: FAOSTAT records no Nigerian production, while Sudan accounts for 24.8% of Africa’s total.
Read more
 
  • 1.5 million TB was consumed in May 2026, the highest monthly level on record.
  • 7 million TB was consumed in Jan–May 2026, up 42.1% from the same period in 2025.
  • Jan–May 2026 usage was 88.4% higher than in 2024 and 156.3% higher than in 2023.
  • May’s monthly usage was nearly 2.6× the level recorded three years earlier.
  • The surge points to rapidly growing demand for internet-based services, content and digital activity in Nigeria.
Read more
 
  • 3G's share of Nigeria's mobile market fell from 16.5% to 5.1% between May 2023 and May 2026.
  • 4G became the dominant network, with its market share rising from 25.1% to 54.3% over the same period.
  • 2G's share declined from 58.4% to 36.1% but still accounted for more than one-third of all mobile connections.
  • 5G expanded nearly 37-fold, growing from less than 0.1% to 4.5% of mobile subscriptions.
Read more
  • Nigeria's 36 states received a combined ₦4.14 trillion in FAAC allocations in Jan-May 2026, up ₦735.4 billion (21.6%) from a year earlier.
  • Thirty-five states received higher allocations than a year earlier, while Rivers was the only state to record a decline (₦7.15 billion).
  • Lagos recorded the largest increase in FAAC allocations (₦119.5 billion), more than three times the increase recorded by Oyo (₦38.3 billion).
  • Oyo, Kano, Borno, and Jigawa rounded out the top five states with the largest increases in FAAC allocations.
Read more
  • OPay and Chipper Cash became Africa's fastest unicorns, reaching $1 billion in just 3 years.
  • Interswitch took 17 years to become a unicorn, the longest journey on the list.
  • Moove became Africa's 10th unicorn, reaching the milestone 6 years after it was founded.
  • Half of Africa's unicorns reached a $1 billion valuation within 6 years.
  • Eight of the 10 African unicorns primarily operate in the fintech sector.
Read more
  • Nigeria's insurance industry generated ₦2.3 trillion in gross premium written in 2025.
  • Gross premium written increased 47.3% from ₦1.56 trillion in 2024.
  • Premiums have grown by 273% since 2021, from ₦616.6 billion.
  • Gross premium written has increased every year since 2021.
  • Premium growth does not necessarily mean higher insurance coverage or profitability.
Read more
1 2 3 … 262
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